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(MoneyNewsWire.Net, April 02, 2018 ) Asia-Pacific Feed Palatability Enhancers & Modifiers Market has been estimated at USD 0.97 billion in 2016 and is projected to reach USD 1.19 billion by 2021, at a CAGR of 4.19% during the forecast period from 2016 to 2021. The Feed Palatability Enhancers & Modifiers market is showcasing significant potential in the mentioned forecast period. The market continues to build up momentum with the increase in the meat consumption all around the world and has thus received attention specifically from the manufacturers of Feed additives like flavours, sweeteners and texturants.
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Feed Palatability Enhancers & Modifiers are basically used for overcoming the smell and bitter taste of feed due to result of feed additives, which are good for animal health and thus necessary. Flavours and Sweeteners are therefore used for neutralizing the taste and smell. Palatability involves oxidation, mold control, and better shelf life of animal feed.
The rise in demand for safe and healthy human food as well as mass production of meat has gained attention of different feed additives manufacturers. It has resulted in a rapid growth in the market in recent years. Other major factors driving the market include rise in meat consumption, consumer awareness about meat quality, increased demand for feed and the pet food quality which is major concern. The market has also been facing some restraints and challenges. Some of the key ones are harmful effects of ingredients and increase in cost of raw materials. These few factors have been holding back the market from reaching its actual potential.
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The Asia-Pacific market for Feed Palatability Enhancers & Modifiers is categorized on the basis of livestock and type. The market segmentation based on type is done into flavours, sweeteners and texturants which all are further segmented in synthetic and natural. The market share is led by natural products due to the health related concerns with synthetic products. Based on livestock, the market is segmented into swine, cattle, poultry, aquaculture, pet foods and other livestock. The cattle sector accounted for the greatest market share based on livestock due to rise in production of cattle meat in recent years and is expected to show even further growth. On the basis of geography, the Asia-Pacific market is analysed under various regions namely China, India, Australia, Japan and South Korea.
Some of the major companies dominating the market, by their products and services include Associated British Foods PLC, E. I. Dupont, Diana Group, Eli Lilly and Company, Ferrer, Ensign-Bickford Industries Inc., Kemin Europa, Kerry Group PLC, Kent Feeds Inc., Tanke International Group.
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